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Las Vegas, Nev. – Today, U.S. Senator Catherine Cortez Masto (D-Nev.) hosted a press conference alongside representatives from For Our Future Nevada, the Children’s Advocacy Alliance, and New Day Nevada to highlight her legislation to cut taxes for everyday American families. As Republicans’ economic agenda continues to raise prices on working people, the Senator shared an alternative in her Tax Cuts for Workers Act and American Family Act. Earlier this week, Senators Cortez Masto and Bennet (D-Colo.) introduced these bills as part of Senate Democrats’ comprehensive plan to bring relief to the American people.
“Working Nevadans need expanded tax relief – not Republicans’ cost raising agenda – to ensure they can keep providing for their families,” said Senator Cortez Masto. “In Congress, Republicans are working to lower taxes for billionaires at the expense of everyone else. On the other hand, what Democrats are proposing is simple: if government is going to be cutting taxes for anyone, then it should be for the hardworking families who would benefit the most.”
The existing Earned Income Tax Credit (EITC) – the Worker Tax Cut – has been delivering tax relief for millions of workers for decades. But it’s just not enough, and Cortez Masto is determined to give more working Americans a break. The Tax Cuts for Workers Act would cut taxes for working class Americans without children, who currently receive a much smaller EITC than workers with children. This expansion would include over 136,000 Nevadans by nearly tripling the average tax break many of these Americans receive from the existing EITC. It also extends eligibility for the tax cut to workers under the age of 25 and over the age of 64.
The 2021 expansion of the Child Tax Credit (CTC) in the American Rescue Plan Act led to a historic reduction in poverty in the United States, particularly for children. Research showed that child poverty fell immediately and substantially to 5.2%, its lowest level on record. The American Family Act would increase the value of the CTC from the current level of $2,000 per child to $6,360 for newborns, $4,320 for children ages one through six, and $3,600 for children age six through 17; end the longstanding policy that reduces the value of the CTC for low-income families; provide for monthly delivery of the credit so families have access to the credit as bills arrive; and index the CTC for inflation to preserve the value of the credit moving forward.
Senator Cortez Masto has consistently supported efforts to cut taxes and lower costs for hardworking Nevadans. She helped pass critical expansions to the Child Tax Credit in the American Rescue plan, and has been fighting to permanently increase this vital relief for working families. Cortez Masto also helped introduce the No Tax on Tips Act to exempt tipped wages from federal income tax. Additionally, Senator Cortez Masto supports raising the federal minimum wage and eliminating the minimum wage gap for tipped workers nationally.
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